Episode 108 – Assessing the State Bank of Pakistan

Pakistan’s monetary policy has been the focus of attention over the last few years, particularly since Dr. Reza Baqir became governor in 2019. His three year tenure is up, which is a good time to assess the central bank and its performance.

In this episode, Uzair talks to Ariba Shahid, a business journalist based in Pakistan, about the highs and lows of the SBP over the last few years.


0:00 Introduction

1:10 What did the SBP get right?

21:00 Digital payments

29:00 What did they get wrong?

36:50 Fiscal overruns and monetary policy

42:40 Where does the SBP go from here?